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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Lease Expense and Related Cash Flows
The following table presents the Company’s total lease expense and the cash flows arising from lease transactions:
Year ended December 31,202420232022
Lease cost:
Operating lease expense$17,273$21,499$20,611 
Short-term lease expense(1)
7812,291813 
Sublease income(2)
(4,554)(4,531)(3,423)
Total lease expense$13,500$19,259$18,001 
Other information:
Operating cash outflows from operating leases$17,035$20,190 $22,932 
Right-of-use assets obtained in exchange for new operating lease liabilities(3)
$(3,209)$34,988 $6,514 
Weighted-average remaining lease term - operating leases(4)
9.3 years9.8 years9.9 years
Weighted-average discount rate - operating lease(5)
4.9%4.4 %4.1 %
(1)    Short-term lease expense is recognized on a straight-line basis over the lease term.
(2)    Sublease income largely relates to office properties in Chicago, Alpharetta and London.
(3)    In 2024, the Company modified a lease agreement to reflect an increase in lease payments for its office property in London, terminated a lease agreement for its office property in Singapore and entered into a new lease agreement for an office property with a reduced floor in Singapore.
(4)    Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date.
(5)    Weighted-average discount was calculated on the basis of the discount rate that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date.
Summary of Maturity and Minimum Lease Payments
The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2024:
Year ended December 31,Expected cash flows
2025
$17,787 
2026
15,181 
2027
13,026 
2028
12,283 
2029
12,280 
Later years62,663 
Discount(26,606)
Total discounted operating lease liabilities$106,614 

The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2023:
Year ended December 31,Expected cash flows
2024
$17,543 
2025
18,122 
2026
15,767 
2027
13,519 
2028
12,691 
Later years74,852 
Discount(29,393)
Total discounted operating lease liabilities $123,101